I’ve been looking into bank accounts for my young son. We want to start his financial literacy and good money habits by opening a bank account for him. With the forethought that we can guide him manage his money at a young age. Here are some Philippine banks that offers savings accounts for children I have checked out and listed below. These accounts often come with features tailored to meet the needs of young savers while also providing parents or guardians with control and oversight. Here are some Philippine banks known for offering kids’ savings accounts:

  1. BDO Junior Savers Account: BDO (Banco de Oro) offers the Junior Savers Account for children aged 0-12 years old. It comes with a passbook and an ATM card, and parents or guardians can manage the account until the child reaches 12 years old.
  2. Metrobank Fun Savers Club: Metrobank’s Fun Savers Club is available for kids aged 0-12 years old. It offers competitive interest rates and comes with a passbook. Parents or guardians are required to open and manage the account.
  3. BPI Jumpstart Savings Account: BPI (Bank of the Philippine Islands) offers the Jumpstart Savings Account for kids aged 10-17 years old. It comes with an ATM card and has no maintaining balance requirement. Parents or guardians need to co-sign the account until the child reaches 18 years old.
  4. Security Bank Junior One Account: Security Bank’s Junior One Account is designed for kids aged 0-17 years old. It offers competitive interest rates and comes with a passbook. Parents or guardians are required to open and manage the account.
  5. UnionBank Start2Save Junior Savings Account: UnionBank’s Start2Save Junior Savings Account is available for kids aged 10-17 years old. It offers an attractive interest rate and comes with a debit card. Parents or guardians are required to open and manage the account until the child turns 18.
  6. PNB Junior Savers Account: Philippine National Bank (PNB) offers the Junior Savers Account for children aged 0-12 years old. It comes with a passbook and an ATM card. Parents or guardians can manage the account until the child reaches 12 years old.
  7. China Bank Junior Savers: China Bank’s Junior Savers Account is available for kids aged 0-18 years old. It offers competitive interest rates and comes with a passbook. Parents or guardians are required to open and manage the account.

When considering opening a kids’ savings account, it’s essential to inquire about the specific requirements, features, fees, and interest rates offered by each bank. Additionally, parents or guardians should teach their children about the importance of saving money and financial literacy as they start their journey towards financial independence.